Arcadia looks overseas to grow profit

Arcadia looks overseas to grow profit

September 4, 2021 sdikdwvy 0

first_img ARCADIA, the owner of retail chains including Topshop and BHS, is planning further international expansionafter posting a 6.4 per cent rise in pre-tax profit to £213.2m for the year to the end of August yesterday. Arcadia Group’s operating profits increased 10.4 per cent to £279.6m in the year, on sales up 40 per cent to £2.8bn.Total sales were £2.8bn with sales at UK stores open at least a year up 1.3 per cent, and up one per cent in the first 11 weeks of the new financial year. However, UK like-for-like sales growth at the group – which also includes Miss Selfridge, Burton, Dorothy Perkins, Wallis and Evans – has declined in recent weeks.Sir Philip Green said he was eyeing South Africa, Australia and Asia to expand his chains, which include Top Shop and BHS. Arcadia already has 2,542 owned and 579 franchised outlets in 37 countries. The group has just agreed to open five stores in Brazil, and is in discussions to set up in South Africa and Australia. Green said: “We also have get to go to Asia. We’ve got to sit down and draw up a business plan. I remain cautious about the year ahead, with increases in VAT, rates, raw materials and some wage inflation. But I look to grow the business both at home and overseas.”The company said that Green will not receive a dividend. Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap Tags: NULL Thursday 18 November 2010 7:45 pm Share whatsapp whatsapp Show Comments ▼ KCS-content Arcadia looks overseas to grow profit last_img

 

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